Khaleeji Commercial Bank’s exposure to NMC Healthcare exceeds $32mln

Khaleeji Commercial Bank incurred losses

Mubasher: GFH Financial Group announced that Khaleeji Commercial Bank, a 55%-owned subsidiary of GFH, reported a financing exposure of $32.71 million to the NMC Healthcare Group.

GFH’s announcement was made as per Boursa Kuwait’s request, according to a bourse statement on Monday.

It is worthy to note that in 2019, GFH achieved a net profit attributable to the shareholders worth $80.1 million, down by 29.8% on an annual basis from $114.1 million.

Meanwhile, Khaleeji Commercial Bank, listed on Bahrain Bourse (BHB) and the Dubai Financial Market (DFM), incurred losses of BHD 14.93 million over 2019, against a profit worth BHD 658,760 in 2018.

GFH is listed on BHB, Boursa Kuwait, and DFM.

Source: Mubasher

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